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BIMCO adopts ship financing term sheet

23 November 2016

In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016.

Califonia State - Ships Fee Increased to $1,000 Effective 1st April 2017

07 December 2017

The California State Lands Commission (CSLC) approved regulations that increased the fee paid by vessels with a qualifying voyage arrival at a California port. The fee was increased from $850 to $1,000. The Board of Equalization will begin collecting the increased fee on or after 1st April 2017. The Marine Invasive Species Act requires ships over 300 GRT and carrying or capable of carrying ballast water that arrive at a California port to submit a US Coast Guard Ballast Water Management Report to the CSLC.

Sale and leaseback – BIMCO’s next move in ship financing

11 October 2019

In October, an Asian-based subcommittee involving major players within the ship owning and ship leasing communities will begin work to develop a term sheet for sale and leaseback transactions to meet a rise in demand and to complete the suite of three term sheets available for financiers, shipowners and their advisors.

BIMCO encourages uniform ship-port data exchange in IMO submission

17 February 2020

BIMCO, flag administrations and port associations have submitted a proposal to the IMO Facilitation Committee to develop IMO guidelines that provide global industry standards for data and data sharing, with the aim to enhance communication and thereby efficiency during port calls.

New BIMCO clause promotes harmonised ship-shore data exchange

16 April 2021

BIMCO has published a charter party clause promoting the use of the IMO’s data model framework. The publication is an extension of BIMCO’s strategic objective to encourage greater efficiency and harmonisation in the ship-shore interface.

Are autonomous ships on the horizon?

23 March 2021

Millions of dollars are invested into the research and trials of systems needed to expand autonomous shipping. The question is: will it pay off?

US regulations affecting your ships - get the November update!

11 December 2017

This is the latest in a series of reports supplied by the Chamber of Shipping of America (CSA) with the intention of keeping BIMCO members appraised of legislative developments in the US affecting international shipping. BIMCO highlights only the relevant developments that would impact members. The full CSA November report is also provided.

IMO sets the course of new regulation of maritime autonomous ships

02 June 2022

The IMO’s Maritime Safety Committee (M S C) decided at its meeting 20-29 April 2022 to commence work on the development of a new goal-based instrument regulating the operation of maritime autonomous surface ships (MASS). BIMCO reports from the meeting.

IMO agrees on GMDSS updates to enhance safety for ships

06 May 2022

Modernisation of the Global Maritime Distress and Safety System (GMDSS), which was initiated a decade ago, has finally been completed at the International Maritime Organization (IMO). In the process, changes to satellite service providers have been implemented. Changes have also been made in the definitions of the SOLAS regulations Chapter IV, whereas no changes have been made to the carriage requirements of the ships